A transaction involving international law firms including Cleary Gottlieb Steen & Hamilton, Wachtell Lipton Rosen & Katz, Ropes & Gray and Sullivan & Cromwell has resulted in the sale of a majority stake in Creative Artists Agency (CAA) to Artémis, a Paris-based holding firm run by the prominent Pinault family of France. The precise financial terms of the agreement were not disclosed, but the value of the deal has been estimated at up to $7 billion in some published reports.
Artémis is set to acquire the majority CAA stake formerly held by TPG, a private equity investment company centered in San Francisco. Given the size and scope of this transaction, it’s anticipated to have substantial impacts on the operations and ownership structure of CAA.
More information regarding the deal, including the precise roles and contributions of the various law firms involved in the transaction, can be found by following this link.